EQS-Adhoc: SAF-HOLLAND SE publishes preliminary key financial figures for the second quarter 2023 and increases the outlook for the financial year 2023
Publication of Inside information according to Article 17 of Regulation (EU) No. 596/2014 (MAR)
SAF-HOLLAND SE publishes preliminary key financial figures for the second quarter 2023 and increases the outlook for the financial year 2023
Bessenbach (Germany), August 08, 2023. +++ SAF-HOLLAND SE ("SAF-HOLLAND"), today publishes preliminary key financial figures for the second quarter 2023 and increases the outlook for the financial year 2023:
- Group sales, adjusted EBIT and adjusted EBIT margin in Q2 2023 slightly above market expectations
- Outlook for the financial year 2023 raised to Group sales slightly above EUR 2,000 million and an adjusted EBIT margin of up to 9%
Both Group sales for Q2 2023, with growth of 37.7% (organic: +11.4%) to EUR 555.7 million (consensus: EUR 539.5 million), adjusted EBIT of EUR 50.8 million (consensus: EUR 48.0 million) and adjusted EBIT margin of 9.1% (consensus: 8.9%) are slightly above market expectations.
Based on the continued strong demand for trailer and truck components, especially in the Americas and APAC regions, as well as a continued very high order backlog, the Management Board has decided today to adjust the outlook for the financial year 2023:
SAF-HOLLAND's Group sales are now expected to be slightly above the EUR 2,000 million mark (previously: tending around the upper end of the sales range of EUR 1,800 to 1,950 million).
The adjusted EBIT margin for the financial year 2023 is now expected to be up to 9% (previously: 7.5% to 8.5%).
The increase of the adjusted EBIT margin outlook takes into account a slightly improved sales mix of the regions with a shift of sales and earnings towards the Americas and APAC regions, where SAF-HOLLAND achieves higher margins. In addition, SAF-HOLLAND is expected to continue to benefit from growth in the aftermarket business as well as very good progress achieving the synergy targets communicated in connection with the Haldex acquisition.
SAF-HOLLAND continues to expect a capex ratio of up to 3% of Group sales in financial year 2023.
SAF-HOLLAND will publish the Half-Year Financial Report 2023 on August 10, 2023 and will hold a conference call (in English only) for institutional investors and analysts on that date.
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